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The trial balance of Your Company as of December 31 is presented below. Required: 1) Prepare an income statement for the year ended December 31.
The trial balance of Your Company as of December 31 is presented below. Required: 1) Prepare an income statement for the year ended December 31. 2) Prepare a statement of retained earnings for the year ended December 31 . The retained earnings balance on January 1 was $82,800. 3) Prepare a balance sheet at December 31. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{l} Your Company \\ Trial Balance \\ December 31 \end{tabular}} \\ \hline & Debit & Credit \\ \hline Cash & $96,600 & \\ \hline Accounts receivable & 41,400 & \\ \hline Supplies & 20,700 & \\ \hline Prepaid insurance & & 4 \\ \hline Buildings & 262,200 & \\ \hline Accounts payable & & $34,500 \\ \hline Wages payable & & 48,300 \\ \hline Interest payable & & 6,900 \\ \hline Unearned revenue & & 27,600 \\ \hline Notes payable & & 82,800 \\ \hline Common stock & & 207,000 \\ \hline Retained earnings & & 82,800 \\ \hline Dividends & 10,350 & \\ \hline Services revenue & & 255,300 \\ \hline Rent revenue & & 27,600 \\ \hline Wages expense & 138,000 & \\ \hline Interest expense & 6,900 & \\ \hline Insurance expense & 13,800 & \\ \hline Utilities expense & 48,300 & \\ \hline Supplies expense & 13,800 & \\ \hline Repairs expense & 31,050 & \\ \hline Totals & $690,000 & $690,000 \\ \hline \end{tabular} Mehakpreet Kaur Company Income Statement For Year Ended December 31, 2023 Revenues
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